The economist thinks the Fed ought to pay more attention to financial markets when setting interest rates.The Fedread more
Kohl's, J.C. Penney and Nordstrom release disappointing earnings news, putting a damper on their sector.Retailread more
Bezos's comments give a rare glimpse into his interest in the auto industry. Amazon recently invested in two self-driving start-ups.Technologyread more
While investing often seems like a contrarian game where going against the flow feels like the better bet, the reality is that investors who bought the most-favored stocks...Hedge Fundsread more
Talks between the world's two largest economies have stalled after each nation lobbied higher tariffs on the other's imports.Traderead more
A Chinese official in Hong Kong is urging the quick passage of legal measures to allow fugitives to be transferred to the mainland.China Politicsread more
GAC Motor said its delaying its launch in the U.S. but had no timeline when it could launch there.Autosread more
Shares in Asia were higher in Wednesday morning trade following a positive finish overnight on Wall Street, though trade tensions continued to linger between the U.S. and...Asia Marketsread more
See which stocks are posting big moves after the bell on Tuesday, May 21.Market Insiderread more
CBS plans to renew discussions for Starz with Lions Gate in the coming weeks, according to people familiar with the matter. If a deal happens, the remainder of Lions Gate...Technologyread more
The United States sees signs the Syrian government may be using chemical weapons, including an alleged chlorine attack on Sunday in northwest Syria, the State Department said...Defenseread more
President Donald Trump said in Puerto Rico on Tuesday that responding to the devastation of Hurricane Maria had thrown the federal budget "out of whack," but he praised officials and first responders for preventing the storm from becoming a "real catastrophe" like Hurricane Katrina.
Trump visited the island two weeks after Maria destroyed the island's entire infrastructure system, leaving nearly 3.5 million residents without power, and tens of thousands without clean water.
"I hate to tell you, Puerto Rico, but you threw our budget a little out of whack. But that's fine," Trump said at a briefing shortly after he arrived on the island to assess the damage and recovery efforts.
The president's joke was met with stone-faced looks from the assembled officials. In the two weeks since the island was hit, Trump has repeatedly focused attention on Puerto Rico's long-term financial woes and criticized its officials in an attempt to deflect criticism of his administration's flat-footed response to the disaster.
At times, Trump seemed to approach the briefing as an opportunity to laud his administration's disaster response efforts.
"Your governor, who I didn't know, has been tremendously supportive" of the Trump administration's response, offering "the highest praise," Trump said.
"I just want to tell you, right from the beginning, this governor did not play politics. He didn't play it at all," Trump said of the U.S. territory's Democratic governor, Ricardo Rossello. The statement also came off as a shot at San Juan Mayor Carmen Yulin-Cruz, who has emerged as an outspoken critic of the federal government's response to the hurricane.
Yulin-Cruz attended the briefing after being invited by the White House, and she shook the president's hand.
'Every death is a horror'
"Every death is a horror, but if you look at a real catastrophe like [Hurricane] Katrina, and you look at what happened here," Trump said, before asking an official sitting nearby, "what is your death count?"
The official said 16 deaths had been confirmed.
"Sixteen people, verified; 16 versus in the thousands," Trump continued. "You can be very proud all of your people, all of our people, 16 versus literally thousands of people, you can be very proud."
Trump is scheduled to visit with first responders and U.S. military personnel later in the day.